There’s been a lot of talk in the industry about new super powers for market enforcement, conferred by Congress on FERC in last year’s energy legislation. But this hasn’t been the case entirely....
Where Is Super-FERC?
Sweeping revisions to Order 888 are needed before true wholesale competition can take place.
FERC’s Kelliher has made much of creating a more constructive dialog with states regulators. And it is still to be determined whether FERC will make small or large changes to the OATT.
But FERC in 1996 established that its landmark Order 888 would be the platform for wholesale competition. FERC has a duty to ensure that potential suppliers of electricity have equal access to the market—a duty that FERC must serve.
On another note, as a special to this year’s annual CEO edition, I’d like to highlight two insightful articles on the white-hot topics of interest rates and capacity market reform, on pp. 24 and 58, respectively. Given the financial nature of these issues, we’re pleased to announce our authors, Ian C. Connor and Larry Kellerman, come from Goldman Sachs, the firm that the Economist recently named the world’s leading investment bank.
From all of us at the Fortnightly, we hope you enjoy this year’s special CEO issue.